Bitcoin Price Slides Below $36,000, BTC Dominance Rises, Billions Exit Crypto Economy – Bitcoin Markets & Prices Planet

[ad_1]

The price of bitcoin hit a new low this year, hitting $34,000 per unit just after 5 a.m. EST on Saturday morning. Bitcoin is now down more than 48% from its all-time high (ATH) reached two months ago on November 10, 2021 – when it broke above $69,000. In the past week alone, bitcoin has lost 17% in value and a large number of traders and investors are curious to know when the carnage will end.

Digital Currency Market Carnage Continues, Crypto Economy Drops to $1.75 Trillion

It’s been a bloodbath in the cryptocurrency world this week as the price of bitcoin (BTC) has taken every coin with it. Today, the entire crypto-economy is down 11% in the past 24 hours. BTC has been on a downtrend since the crypto asset’s ATH, and since December 27, 2021, when BTC was trading for $52,000, bitcoin has lost over 32% in value per month. against the US dollar.

Just after 5 a.m. (EST) on Saturday morning, the value of BTC fell to its lowest point of the year so far, hitting $34,000 per unit. The 24-hour range of the main crypto asset is between $39,177 and $34,000 per BTC. As the value of BTC has dropped a lot in the past 48 hours from $43,400 at the current $35.5,000 to $36,000 per unit, BTC’s dominance has increased significantly.

At the time of writing, BTC’s market dominance is 39.5%, up 5.33% from January 6, 2022. Ethereum’s dominance, on the other hand, has dropped to 17% and a myriad of other crypto assets have lost a lot of dominance. percentages too. Among the top ten crypto assets, polkadot (DOT) lost the most during the week, losing 32.1%.

Top ten crypto assets by market capitalization as of January 22, 2022.

Additionally, solana (SOL) is down 30.5% in seven days and ethereum (ETH) is down 24.6% since last week. BNB is down 23.9% and xrp (XRP) and terra (LUNA) are both down 21.2% in the past seven days. BTC and ADA saw the fewest percentage losses this week, with ADA losing 12.4% and BTC falling 16.8%.

The crypto-economy has lost a lot of value in the past week, and many people are talking about the crash on social media. Vertical trends on Twitter indicate that hashtags like #cryptocrash and #bitcoincrash are trending alongside discussions of Michael Saylor and Microstrategy’s bitcoin stash. People questioned whether or not Saylor and Microstrategy would sell their BTC holdings and people questioned Tesla holding its bitcoin long term as well.

Meanwhile, most crypto proponents on Reddit forums and social networks like Twitter have no idea the carnage is over. While a number of crypto advocates think the bear markets are almost over and new ATHs are on the horizon, others think BTC could drop even further, below the 20 zone. $000.

YouTuber Colin Talks Crypto tweeted that he believes the bull run is not over. “Bitcoin’s price has dropped tremendously,” the crypto Youtuber wrote. “Many are scared and panicked. It’s understandable. Zoom out. We are still up from the July 2021 low to $29,000. For me, the bull run is not over unless bitcoin price is below $29,000 (and not just a momentary dip below).

Tags in this story ada, ATH, Bear Run, Bearish, Bitcoin (BTC), bnb, BTC, Bull run, Bullish, Cardano, cardano (ADA), Colin Talks Crypto, Crypto Winter, ETH, ether, Ethereum (ETH), Low, LUNA, Markets, Polkadot, Low Price, Price, Solana, Terra, XRP

What do you think of the recent bitcoin price crash and how it has dragged down the entire crypto-economy? Do you expect more bearish crypto prices or do you think the bull run is not entirely over? Let us know what you think about this topic in the comments section below.

Jamie Redman

Jamie Redman is the news manager for Bitcoin.com News and a fintech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written over 5,000 articles for Bitcoin.com News about disruptive protocols emerging today.

Image credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is provided for informational purposes only. This is not a direct offer or the solicitation of an offer to buy or sell, or a recommendation or endorsement of any product, service or company. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

More popular newsIn case you missed it

[ad_2]